Import Substitution in the Agro-Industrial Complex: Implementation Mechanism and Development Prospects

Abstract

The problems and prospects of the import substitution policy continue to be a strategic priority for the development of the Russian economy. This is due to the presence of imports of certain types of food, which pose a threat to the food security of the territory and the infringement of national interests of the country. The current state support of the agro-industrial complex is aimed at increasing agricultural production in order to ensure import substitution. All this determines the need to improve the process of supporting the agro-industrial complex, create favorable conditions for the effective development of rural areas, increase the financial stability of agricultural producers, ensure a sufficient level of their profitability, create and develop a full-fledged production infrastructure. The purpose of this study is to consider the mechanism for the implementation of import substitution in the agro-industrial complex and possible prospects for its development in modern conditions. The article presents an overview of the existing interpretations of the “import substitution” concept which made it possible to indicate the author’s position regarding the studied phenomenon. The mechanism of import substitution is manifested in the unity of its component mechanisms: organizational and economic, which in turn include certain forms, methods, tools. The potential for further development of the agro-industrial complex import substitution mechanism is represented by the following directions: expansion of grant financing of agro-industrial complex enterprises, the list of targeted preferential short-term lending, strengthening of tax incentives, implementation of projects based on public-private partnership.